Republic Act No. 4879


PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES


PHILIPPINE LAWS, STATUTES AND CODES

REPUBLIC ACTS




REPUBLIC ACT NO. 4879
REPUBLIC ACT NO. 4879 - AN ACT TO AMEND SECTION FIFTY-THREE OF REPUBLIC ACT NUMBERED THREE HUNDRED THIRTY-SEVEN, OTHERWISE KNOWN AS "THE GENERAL BANKING ACT"

Section 1. Section fifty-three of Republic Act Numbered Three hundred thirty-seven is hereby amended to read as follows:

"Sec. 53. Mutual building and loan associations may purchase, hold, and convey real estate under the same conditions as those specified with reference to commercial banks in Section twenty-five of this Act. They may also acquire real estate for subdivision into residential lots, on each of which it must construct and erect a residential house for disposition by sales or lease exclusively to their members: provided, that each association shall not invest more than twenty-five (25%) percent of its paid-in capital and surplus in the acquisition of real estate for subdivision purposes: provided, further, that a member of any building and loan association shall acquire not more than one residential lot, subdivided under this Section: provided, finally that the acquisition and resale or lease of real estate as provided for in this section shall be subject to the approval of two-thirds of all the members of the Board of Directors of the associations."

Sec. 2. This Act shall take effect upon its approval.

Approved: June 17, 1967





ClubJuris.Com

REPUBLIC ACT NOS. 4801 - 4900                  

  • Republic Act No. 4801

  • Republic Act No. 4802

  • Republic Act No. 4803

  • Republic Act No. 4804

  • Republic Act No. 4805

  • Republic Act No. 4806

  • Republic Act No. 4807

  • Republic Act No. 4808

  • Republic Act No. 4809

  • Republic Act No. 4810

  • Republic Act No. 4811

  • Republic Act No. 4812

  • Republic Act No. 4813

  • Republic Act No. 4814

  • Republic Act No. 4815

  • Republic Act No. 4816

  • Republic Act No. 4817

  • Republic Act No. 4818

  • Republic Act No. 4819

  • Republic Act No. 4820

  • Republic Act No. 4821

  • Republic Act No. 4822

  • Republic Act No. 4823

  • Republic Act No. 4824

  • Republic Act No. 4825

  • Republic Act No. 4826

  • Republic Act No. 4827

  • Republic Act No. 4828

  • Republic Act No. 4829

  • Republic Act No. 4830

  • Republic Act No. 4831

  • Republic Act No. 4832

  • Republic Act No. 4833

  • Republic Act No. 4834

  • Republic Act No. 4835

  • Republic Act No. 4836

  • Republic Act No. 4837

  • Republic Act No. 4838

  • Republic Act No. 4839

  • Republic Act No. 4840

  • Republic Act No. 4841

  • Republic Act No. 4842

  • Republic Act No. 4843

  • Republic Act No. 4844

  • Republic Act No. 4845

  • Republic Act No. 4846

  • Republic Act No. 4847

  • Republic Act No. 4848

  • Republic Act No. 4849

  • Republic Act No. 4850

  • Republic Act No. 4851

  • Republic Act No. 4852

  • Republic Act No. 4853

  • Republic Act No. 4854

  • Republic Act No. 4855

  • Republic Act No. 4856

  • Republic Act No. 4857

  • Republic Act No. 4858

  • Republic Act No. 4859

  • Republic Act No. 4860

  • Republic Act No. 4861

  • Republic Act No. 4862

  • Republic Act No. 4863

  • Republic Act No. 4864

  • Republic Act No. 4865

  • Republic Act No. 4866

  • Republic Act No. 4867

  • Republic Act No. 4868

  • Republic Act No. 4869

  • Republic Act No. 4870

  • Republic Act No. 4871

  • Republic Act No. 4872

  • Republic Act No. 4873

  • Republic Act No. 4874

  • Republic Act No. 4875

  • Republic Act No. 4876

  • Republic Act No. 4877

  • Republic Act No. 4878

  • Republic Act No. 4879

  • Republic Act No. 4880

  • Republic Act No. 4881

  • Republic Act No. 4882

  • Republic Act No. 4883

  • Republic Act No. 4884

  • Republic Act No. 4885

  • Republic Act No. 4886

  • Republic Act No. 4887

  • Republic Act No. 4888

  • Republic Act No. 4889

  • Republic Act No. 4890

  • Republic Act No. 4891

  • Republic Act No. 4892

  • Republic Act No. 4893

  • Republic Act No. 4894

  • Republic Act No. 4895

  • Republic Act No. 4896

  • Republic Act No. 4897

  • Republic Act No. 4898

  • Republic Act No. 4899

  • Republic Act No. 4900